US Stock Market Today: S&P 500 Futures Fall As Global Bond Yields Climb

The Morning Bull – US Market Morning Update Wednesday, Sep, 2 2026

US stock futures are pointing lower this morning, with E-mini S&P 500 contracts down about 0.5% and Nasdaq-100 futures off nearly 0.9%. The main pressure is coming from a jump in global government bond yields, as UK and European 10-year bonds move to multi year highs and the main German government bond trades above 3.3%. Higher yields mean borrowing costs stay tough for households and companies. At the same time, manufacturing scorecards across Europe are mixed, with the Euro Area Manufacturing PMI at 52.7 but countries like Spain back in contraction. Investors now face a clear question: if borrowing costs stay high while global growth is uneven, interest rate sensitive sectors such as real estate and smaller US companies could feel the strain, while larger exporters and globally diversified sectors draw more attention.

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Top Movers

• Moderna (MRNA) surged 9.93% after earnings headlines kept the stock in focus.
• Edison International (EIX) jumped 8.93% as investors reacted to shifting expectations around California wildfire legislation.
• PG&E (PCG) gained 5.95% following reports the California Assembly plans to kill the wildfire liability bill.

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Top Losers

• SharkNinja (SN) fell 9.13%.
• Credo Technology Group Holding (CRDO) declined 8.65% after investors reacted to record quarterly earnings and guidance updates.
• Axon Enterprise (AXON) dropped 8.52%.

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On The Radar

Tech earnings will set the tone over the next two sessions, with several key software and hardware stocks reporting.

• Snowflake (SNOW) posts Q2 2027 results on Wednesday after market close, spotlighting data cloud growth and spending trends.
• Broadcom (AVGO) reports Q3 2026 earnings on Wednesday after hours, giving a clean read on chip demand and networking budgets.
• NetApp (NTAP) releases Q1 2027 numbers on Wednesday at 4:00 PM, highlighting storage demand and enterprise IT spending discipline.
• Zscaler (ZS) delivers Q4 2026 earnings on Thursday after market, with focus on cybersecurity contract growth and subscription renewals.
• Ciena (CIEN) reports Q3 2026 earnings on Thursday pre market, offering insight into optical networking orders and carrier capex plans.

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Look beyond today’s headlines and focus on companies built to handle tougher borrowing costs while others struggle, because timing your watchlist matters. Our research just surfaced 74 resilient stocks with low risk scores with balance sheets and risk profiles that aim to keep surprises in check when markets get choppy.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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